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Shanghai and Shenzhen to see 400 IPOs this year: PwC

By Ye Zhen | July 2, 2015, Thursday | Online Edition

Shanghai and Shenzhen stock markets are expected to raise a total of 300 billion yuan through initial public offerings this year as the two markets already led the global IPO market in the first half, PwC predicted today.

According to PwC, Shanghai and Shenzhen stock markets led the global IPO market in terms of both number of IPOs and amount of funds raised in the first half of 2015. In the first half, 187 companies listed on Shanghai and Shenzhen stock markets raised a total of 146.1 billion yuan, a year-on-year increase of 260 percent and 314 percent respectively.

“Both the number of IPOs and funds raised in the first half of 2015 surpassed the total number of the whole year of 2014. The strong growth of the IPO market was the inevitable result of favorable policies issued by regulatory authorities and market reforms,” said Frank Lyn, PwC China’s mainland and Hong Kong Markets Leaders.

“We foresee more activity in the IPO market in the second half of the year, with the total number of IPOs in the Shanghai and Shenzhen stock exchanges reaching 400 and raising about 300 billion in total,” he said.

PwC said it keeps its forecast despite recent rout of the A-share markets.

He noted that as CSRC gradually optimizes the administrative approval process for the public offering of shares, the time required for examining and approving IPOs and refinancing applications will be shortened, signaling the impending arrival of the registration system reforms.

These companies will primarily be SMEs in the industrial products, information technology, financial services and consumer goods sectors.”

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